Spanish multinational bank BBVA has announced the addition of USD Coin (USDC) to its crypto offerings for private and institutional clients in Switzerland. This marks the bank’s third crypto offering, following the introduction of Bitcoin and Ether.
Expanding Crypto Access for Clients
BBVA’s clients in Switzerland can now manage USDC funds within the same platform they use for traditional financial services. USDC, a leading stablecoin pegged to the US dollar, provides a stable and efficient way to trade cryptocurrencies and integrate with traditional finance.
Philippe Meyer, Head of Digital Solutions and Blockchain at BBVA Switzerland, emphasized the bank’s commitment to offering clients easy access to tokenized products. “We want to provide our private clients with a simple way to access the tokenized products they are most interested in, and our institutional clients need us to offer options to guarantee the assets they manage,” he stated.
Building on Previous Crypto Initiatives
BBVA has been at the forefront of crypto adoption in the banking industry. In 2021, the bank began offering Bitcoin trading and custody services to its Swiss customers. Subsequently, it became the first traditional bank to offer Ether to its clientele. This latest addition of USDC further strengthens BBVA’s position as a leader in crypto-related services.
Focus on AI and Innovation
In addition to its crypto offerings, BBVA has been actively integrating artificial intelligence (AI) into its operations. The bank has been running “AI Factories” for over a decade, where analysts, data specialists, and engineers collaborate to develop innovative AI solutions.
Also Read: Garanti BBVA Expands Crypto Portfolio XRP Now Available To Over 20 Million Users
Recently, BBVA signed a strategic agreement with OpenAI, the company behind ChatGPT. This partnership aims to leverage AI technology to enhance productivity, efficiency, and customer experience. Ricardo Martín Manjón, global head of data at BBVA, highlighted the bank’s commitment to innovation and the potential of generative AI in transforming financial services.
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